Hurricane Michael: Here we go again...the latest data & analytics for P&C insurers

At a glance:

  • Hurricane Michael is a Category 4 hurricane, with maximum sustained winds of 150 mph
  • Located 60 miles SSW of Panama City, Florida
  • Landfall expected along Florida's northeastern Gulf Coast sometime Wednesday afternoon
  • Cat 4 hurricane has never made landfall in the Florida Panhandle
  • Storm surge could reach 9-14+ feet in places
  • Rainfall flooding is a significant threat inland into the Carolinas

Hurricane Michael has rapidly intensified. Now the question is, will it hold its strength with landfall? According to forecasters, Hurricane Michael's rapid intensification over the past two days, despite shifting winds, "defies traditional logic." Michael is expected to make history, as it will be the strongest hurricane to ever come ashore (since 1851) along the Florida Panhandle. Hurricane warnings are currently posted for the Florida Gulf coast from the Alabama/Florida border to Suwanee River, Florida, including Pensacola, Panama City, Destin and Tallahassee.

10 critical hurricane takeaways for P&C insurers to consider during & after an event

While we would like to think last year’s hurricane season was an anomaly, recent NOAA research points to more frequent and severe hurricanes due to climate warming. This means re/insurers, MGAs, and brokers alike, will need to become more proficient at the job of operationalizing sophisticated hazard data. As a 2017 report from McKinsey & Company found, “...a large operational performance gap remains. These disasters will likely demonstrate significant value for those insurers that have made the investment in digital tools. Insurers that have not and were highly exposed to the hurricanes will find their operations severely challenged….”

How to interpret post-event hurricane footprints

KatRisk’s inland flood depth footprint is just one of the many Hurricane Florence post-event footprints now accessible in SpatialKey.

Hurricane Florence is now a tropical depression with extensive river flooding being the primary concern. As you work to understand the extent of damage, respond to claims, and even identify potentially fraudulent claims, post-event data is a critical component in your mitigation and response efforts. With Florence reminiscent of Hurricane Harvey flooding, it’s time to refresh your understanding of how to interpret post-event footprints.

Hurricane Florence: The latest data & analytics for P&C insurers

At a glance:

  • Hurricane Florence is a Cat 2 with maximum sustained winds near 105 mph
  • Potentially catastrophic flooding (20+ inches)
  • Maximum storm surge 9-13 feet
  • Catastrophic flash flooding and major river flooding expected
  • More than 1 million evacuated
  • Expected to crawl near or along the coast of the Carolinas through Friday
  • Moving northwest at 10 mph
  • Landfall expected sometime Friday

Centered about 130 miles east-southeast of Wilmington, North Carolina, Florence is moving northwestward—slowly. Although downgraded to a Cat 2, the original storm surge predictions are still valid with the National Hurricane Center stating Wednesday evening that, "the wind field of the hurricane continues to grow in size. This evolution will produce storm surges similar to that of a more intense, but smaller, hurricane, and thus the storm surge values seen in the previous advisory are still valid."

2018 Hurricane Best Practices for P&C Insurers

Just a year ago Hurricane Harvey was making landfall on the Gulf Coast of Texas. Now, the projected hurricane season looks quite different, having been downgraded most recently by NOAA. It would be easy to become complacent—if not for Hurricane Lane, a Category 4 cyclone, barreling down on the Hawaiian islands. We may not see a string of hurricanes like last season, but Hurricane Lane is a reminder that it does, in fact, only take one hurricane. There’s no time like the present to learn from the past and get your operational “ducks in a row”.

Hurricane Lane threatens Hawaiian Islands

Hurricane Lane barrels towards Hawaii (photo courtesy of cbsnews.com)

Almost exactly one year after Hurricane Harvey dropped 50 inches of rain on Texas, Hurricane Lane, a Category 4 cyclone, is now barreling towards the Hawaiian islands, with its outer rainbands already drenching the Big Island. Forecasters say that it’s on course to move very close to the islands, or, make landfall from Thursday through Friday. With the likelihood of a direct hit growing, authorities have urged residents to set aside two weeks worth of food and water.

Hurricane Maria: Atlantic hurricane season living up to its expectations

Hurricane Maria devastation, courtesy of the Wall Street Journal

Hurricane Maria barreled into Puerto Rico on Wednesday as a Category 4 hurricane and was the most powerful storm the island has seen in nearly a century. Earlier in the week, Maria hit the Caribbean island of Dominica as a Category 5 hurricane. Maria is the fourth major hurricane (Category 3 or more) this season and on track with NOAA’s predictions. While four major hurricanes should not come as a surprise, what has been surprising is how close together they have occurred. Maria comes on the heels of Harvey, Irma, and Jose, making it imperative that insurers work to stay ahead of these events and be prepared in a time of extreme weather uncertainty.

Popular Posts